ATM Card Vs Debit Card

Recently I have closed one of my Debit Card and got an ATM card. The Debit Card was costing me Rs 354 per year whereas the ATM Card is free of cost. This is major difference between the Debit Card and the ATM Card. The debit card charges you money whereas the ATM card doesn't. But what makes Debit Card charge you money whereas the ATM card not.

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The Debit card helps you to do payment anywhere be it online payment, POS transactions, or ATM withdrawal. Along with that you will get some rewards too if that Debit card have it. Whereas the ATM card helps you to do cash withdrawal from the ATM card and it will not be used for online transactions or POS transactions. I have replaced the Debit Card with the ATM card because all my online transactions as well as POS transactions is done using Credit Card.

So no point in giving around Rs 350 per year for the Debit card which is actually not be used. I use the Debit Card for cash withdrawal only and that's why I have closed the debit card and got the ATM card. The ATM card is enough for my requirements and helps me to save money too. The UPI will work as it is and thus I don't really need a Debit card for the day to day payment too.

Though I have 4 Bank Accounts, I only have 1 Debit Card which is again free of cost as it is the Salary Account and other account have the free ATM card. The 2 accounts doesn't have any card at all because that accounts is only for saving and not used for taking out the money. And these are some of the ways you can save some money and that's what I have done today.